The Dubai Police has teamed up with cryptocurrency firm BitOasis to combat the increasing cases of fraud involving cryptocurrencies.
The objective of the collaboration is to help educate investors and traders about crypto fraud, according to Arab News.
BitOasis CEO Ola Doudin said that the firm’s partnership with the police may help protect investors and traders given the number of scams happening on peer-to-peer platforms.
“We have been working with key policymakers to help them build regulation that will make crypto safe for investors,” Doudin said.
Tarek Mohammed, the head of the Dubai Police virtual asset crime section, said that the police department is now extensively training its force to understand crypto and blockchain.
“(The UAE) is taking a hands-on approach to ensuring the financial security of the country, investors, and all stakeholders operating within the crypto space,” Mohammed said.